Annual Report 2010 - CDON Group
Annual Report 2010 - CDON Group
Annual Report 2010 - CDON Group
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22 <strong>CDON</strong> <strong>Group</strong> AB<br />
<strong>Annual</strong> <strong>Report</strong> report <strong>2010</strong><br />
Environment<br />
The environment is everyone’s responsibility – both companies and individuals. Our capability to<br />
take responsibility for sustainable development is the key to strengthening general confidence in<br />
us. The <strong>CDON</strong> <strong>Group</strong> is constantly searching for new ways to further decrease its environmental<br />
impact.<br />
Our operations require warehousing, packaging, and transportation. Our customers, owners, and<br />
society in general expect us to offer environmentally conscious choices and to operate our<br />
business in a manner that is sustainable in the long term.<br />
Since the company was founded, we have developed our packaging selection to optimise product<br />
protection for every delivery, while using the smallest amount of material possible. The result is<br />
smaller, lighter packaging material. Most of our packages are sent in boxes manufactured from<br />
recycled fibre.<br />
Our shipments are mainly sent with Posten Norden, a supplier with an active environmental<br />
programme. Products packaged in envelopes are sent as eco-friendly product letters, the most<br />
environmentally compatible distribution method, in which air shipping is avoided and Posten<br />
offsets the carbon use for the distribution.<br />
Employees<br />
<strong>CDON</strong> <strong>Group</strong> recognises that its employees are crucial to the Company’s operation. Attracting and<br />
retaining staff and developing employee skills are necessary to the success of the <strong>CDON</strong> <strong>Group</strong>, as<br />
well as to meet established targets for growth and business development.<br />
The <strong>Group</strong> had 333 full-time employees at the end of <strong>2010</strong>, compared with 221 at the beginning<br />
of <strong>2010</strong>. Information on the average number of employees and salary expenses for the year is<br />
available in Notes 22 and 23.<br />
Remuneration of the Chief Executive Officer and senior executives<br />
It is proposed that the annual general meeting of shareholders adopt the following guidelines for<br />
remuneration to executives:<br />
Remuneration guidelines<br />
The objective of the guidelines is to ensure that <strong>CDON</strong> <strong>Group</strong> can attract, motivate and retain<br />
senior executives, within the context of <strong>CDON</strong> <strong>Group</strong>’s peer group, which consists of Nordic online<br />
and off-line retailing companies. The remuneration shall be based on conditions that are market<br />
competitive and at the same time aligned with shareholders’ interests. Remuneration to the<br />
Executives shall consist of a fixed and variable salary, as well as the possibility of participation in a<br />
long-term equity based incentive programme and pension schemes. These components shall
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